Due to complete my purchase in Worcestershire next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the bank. What risks does the mortgage company expect the insurance to cover?
Any lawyer on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook requirements. These requirements are not limited to conveyancing in Worcestershire.
I own a freehold house in Worcestershire yet charged rent, why is this and what is this?
It’s unusual for properties in Worcestershire and has limited impact for conveyancing in Worcestershire but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
I am aiming to move house in October. Does my conveyancing solicitor liaise with the removal company on the day of completion. As an aside, can you suggest a removal company in Worcestershire. Conveyancing firm was found before I stumbled across this website.
On the afternoon of completion you can collect the keys from your estate agent however this can only occur once the vendors solicitors confirm to the agent that they have the completion monies and the keys can be collected. Subsequently you will need to inform the removal company that they can start moving you in. We are not in a position to recommend a particular removal organisation but can help you find a conveyancing in Worcestershire or a firm that specialises in conveyancing in Worcestershire.
Clydesdale have agreed my home loan in principle, my offer on a apartment in Worcestershire has been accepted, what are the next steps?
The property agent will wish to be advised as to your conveyancing practitioner's details (be sure the lawyers are on the lender’s panel). Call up Clydesdale or the financial adviser and finish off any relevant forms. Clydesdale will appoint a valuer who will get in contact with the selling agent or vendor to book an appointment. Once carried out (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. Clydesdale will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Worcestershire.
My offer on a property in Worcestershire has been accepted, the sellers do however have a connected purchase. The vendors have put an offer on a property, however it’s not yet agreed to, and have viewings of other properties in the pipeline. I have instructed a high street conveyancing solicitor in Worcestershire. What do I do now? At what point should I apply for the mortgage with Leeds Building Society?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is approx one thousand pounds, then survey, Worcestershire conveyancing search costs, etc). The first course of action is to check that your conveyancer is on the Leeds Building Society approved list. Regarding the next phase this very much dictated by the specifics of your transaction, attraction to the property and on the state of the market. During a rising market some buyers would apply for a home loan with Leeds Building Society and arrange for the valuation and only if it was satisfactory would they request their conveyancing practitioner to proceed with the conveyancing in Worcestershire.
Do commercial conveyancing searches reveal impending roadworks that may impact a commercial land in Worcestershire?
Many commercial conveyancing solicitors in Worcestershire will carry out a SiteSolutions Highways report as it reduces the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Worcestershire. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Worcestershire.
For every commercial conveyancing transaction in Worcestershire it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may cause delays to Worcestershire commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Worcestershire.
Should I be concerned by estate agents that I am dealing with are recommending a factory type conveyancing firm as opposed to a local Worcestershire conveyancing firm?
As with lots of service providers, often input from connections can be worth their weight in gold. Yet there are many parties with a vested interest in a conveyancing deal; estate agents, mortgage brokers and banks might all put forward conveyancers to instruct. Sometimes these lawyers might be known to one of the organisations as experts in their field, but sometimes there is an underlying financial incentive behind the endorsement. You have the right to choose your own conveyancer. Don't forget that the majority of mortgage providers operate an approved list of conveyancers you are obliged to use for the lender aspect of your house move.
Having had my offer accepted I require leasehold conveyancing in Worcestershire. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is registered - and 99.9% are in Worcestershire - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I inherited a leasehold flat in Worcestershire, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar flats in Worcestershire with a long lease are worth £260,000. The ground rent is £45 yearly. The lease expires on 21st October 2099
You have 74 years unexpired we estimate the price of your lease extension to be between £8,600 and £9,800 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.